INTERNATIONAL MEAL COMPANY HOLDINGS SA 
By 4Q12 Operating
Results
SAME-STORE SALES INCREASE BY 13.8% IN 4Q12, POSTING THE THIRD CONSECUTIVE RECORD OF THE YEAR Total sales move up by a substantial 29.7%São Paulo, January 30, 2013. International Meal Company Holdings S.A. (BM&FBOVESPA: IMCH3), one of the largest multi-brand companies in the food service segment in Brazil and Latin America, releases its operating results for the fourth quarter (4Q12) and full year of 2012. The information herein is preliminary in nature and is subject to revision by the independent auditors. All comparisons refer to the same periods in the previous year.
STORE EXPANSION
The Company opened 19 new stores in 4Q12 and closed one. As a result, we finished the quarter with
350 stores, 74 more than in the same period in 2011 and slightly higher than our year estimate.
The net increase in 12 months corresponded to 12 Airport stores, 4 Road stores, 56 stores in Shopping Centers and two stores in the segment named other. The greater increase in the number of Shopping Center stores in 2012 was mainly related to some acquisitions made along the year in line with our declared strategy of increase the number of stores in the food courts using a larger number of brands and also increase the cross branding with our other operational segments.
It is important to highlight that we are currently in the process of opening 16 stores in the Airport segment and some others in Shopping Centers segment.
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4Q12 Operating
Results
TOTAL SALES
Total sales came to R$326.2 million in 4Q12, 29.7% above the same period of 2011, boosted by all segments, every one of which recorded period growth of more than 22%.
In 2012 as a whole, total sales amounted to R$1.17 billion, a 30.5% improvement over 2011.
It is worth emphasizing that, given the large number of new store openings in 2012, many are still in the ramp up period, which will help boost sales in the next quarters.
Food sales in the Road segment increased by 20.3% in the quarter and 24.1% year-on-year.
In 4Q12, the Company same store sales reached a record of R$278.4 million, 13.8% more than in 4Q11, mainly driven by the Airport, Road and other segments, which posted respective growth of 19.0%,
14.0% and 25.9%.
In the year as a whole, same-store sales increased 12.2%, proving our strong presence in locations with an inelastic curve in relation to GDP and/or consumption.
In the Road segment, we achieved another quarterly sales growth record. An analysis of the sales mix shows that food and beverage sales grew by 14.5%, while gas sales moved up by 13.4%. We believe this
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4Q12 Operating
Results
substantial upturn was primarily due to our improved product assortment, aided by increased auto traffic on the roads where we operate. In this quarter specifically, we were also helped by some season's holidays which were favorable to the Road business.
In the full year, Road segment food sales increased by 14.3% and fuel sales by 6.9%, giving a growth of
10.9% for the segment as a whole.
The Shopping Center segment improved over the previous quarter but was still slightly below our expectations. There was a reduction in the number of consumers in the Delicatessen stores (where the average ticket is higher) and a slight decline in the average ticket in the Express stores, offset by an upturn in the number of customers in this format.
The new brands are performing above expectations, especially the Batata Inglesa and J&C Delicias brand in Colombia, but they cannot yet be included in the same-store concept. In the coming quarters, however, we believe our numbers will be positively impacted by their entry into this criterion.
It is worth re-emphasizing that the new brands, in addition to possessing more aggressive same-store sales, are less labor-intensive thanks to their relatively small size and less complex operations, enabling us to reduce the number of personnel per store.
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